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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB1542 Introduced 2/9/2011, by Sen. Martin A. Sandoval SYNOPSIS AS INTRODUCED:
| | 30 ILCS 105/5e | from Ch. 127, par. 141e |
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Amends the State Finance Act. Makes a technical change in a Section concerning
the Road Fund.
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| | A BILL FOR |
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| | SB1542 | | LRB097 09948 PJG 50114 b |
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| 1 | | AN ACT concerning finance.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The State Finance Act is amended by changing |
| 5 | | Section 5e as follows:
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| 6 | | (30 ILCS 105/5e) (from Ch. 127, par. 141e)
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| 7 | | Sec. 5e.
The
The Governor, in his discretion, when he deems |
| 8 | | it necessary
for payments of the State's obligations, may |
| 9 | | authorize transfers from the
Road Fund to the State |
| 10 | | Construction Account Fund. Any amount so
transferred shall be |
| 11 | | retransferred from the State Construction Account Fund
to the |
| 12 | | Road Fund by the end of the fiscal year in which the transfer |
| 13 | | was
made. The transfers out of the Road Fund shall not exceed |
| 14 | | $35,000,000 in
any fiscal year. No transfers from the Road Fund |
| 15 | | which impair the
obligations of the State shall be authorized. |
| 16 | | The Comptroller and the
Treasurer, upon receipt of |
| 17 | | authorization from the Governor, shall make
transfers in |
| 18 | | accordance with this Section. In the event the Governor fails
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| 19 | | to authorize the retransfer into the Road Fund as required by |
| 20 | | this Section,
the Comptroller and the Treasurer shall make such |
| 21 | | retransfer. |
| 22 | | (Source: P.A. 84-431.)
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